Damilola Shittu – Abuja The Federal Government has given its nod to three firms to proceed with the financial bids opening in the bid to acquire Afam Power Plc, an electricity generation company. It has also given approval to one firm, Quest Electric Nigeria Limited, to proceed with financial bid opening for Yola Power Plc,…
Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) says it has reduced cash call arrears owed to international oil companies, its Joint Venture partners, by $1.5bn. The corporation has cash call arrears of $5.1bn. Group Managing Director of NNPC, Dr Maikanti Baru, said this at the 12th National Conference of the Nigerian Association…
Agency Report The Minister of Finance, Mrs. Zainab Ahmed has disclosed that the federal has commenced discussion with the World Bank with a view to take a $1 billion loan for the development of the power sector. Also, Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, has said that the current foreign…
Construction of a US $75m liquefied petroleum gas (LPG) plant in Liwatoni area of Mombasa, a coastal city in Kenya, has commenced. According to the Construction Review, the onshore storage and filing facility, whose construction works shall be overseen by Mansa East Africa Ltd, a two firms’ joint venture by US company Petredec and Kenya’s…
